Insurance

Richard Barnes an HRA Director, will be able to assist with Insurance queries, but will need to forward questions that require professional input, to our professional and registered advisers. This would be to ensure compliance with any Financial Services Authority requirements.

HRA Insurance Scheme (The forerunner to the HRA Mutual)

The Heritage Railway Association and Regis Mutual Management Ltd have worked together to form an insurance product to meet the insurance needs of the HRA membership.

When the scheme becomes mutual, HRA members as a group of policyholders will generate significant buying power to help place the insurance with the most suitable underwriters.

Starting as a traditional insurance scheme is the first step towards a Discretionary Mutual owned and controlled by the HRA membership. This change will happen as soon as enough members join.

When formed, the HRA Mutual will pay the cost of a claim up to a certain amount and will itself have insurance for the larger claims or an accumulation of smaller claims.

It is an insurance product designed for HRA Members to buy all their heritage railway insurance needs in one place with the added bonus that they are stakeholders in the scheme. Members can choose most sections of the insurance so it can be adapted to suit each member's needs.

The cover available includes:

Buildings - including up to £100,000 cover for additions and alterations

Contents – including property at external exhibitions, events and Museums